Friday, January 19, 2007

Russell 1-19-07

The eMinis opened up with very choppy action for the first hour of the morning before breaking out nicely to the upside.

With little action in the early morning, the first trade didn't occur until 7:01 which was Long at 781.3 for 1.5 points. This was a very long trade lasting about 45 minutes and once this broke at 7:39 I should have rode this for a bit further but I ran out of patience.

The irony is that many stock analyists recommend not trading at all today. Remember that if you've got a tested system its valid whenever the market is open. The only time you would avoid trading on a day like today is if you've tested it in the past.

Net on the day +1.5
Net on the week +2.5

On to better weeks!
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